Question 1) Use the starting balance sheet, income statement, and the list of changes to answer the question Gulf Shipping Company Balance Sheet As of December 31, 2015 (amounts in thousands) Cash 38,000 Liabilities 22,000 Other Assets 27,000 Equity 43,000 Total Assets 65,000 Total Liabilities Equity 65,000 Gulf Shipping Company Income Statement January 1 to March 31, 2016 (amounts in thousands) Revenue 5,100 Expenses 2,800 Net Income 2,300 Between January 1 and March 31, 2016 1 Cash decreases by $100,000 2 Other Assets do not change 3 Paid In Capital does not change 4 Dividends increase by $400,000 What is the value for Liabilities on March 31, 2016 Please specify your answer in the same units as the financial statements Question 2) Use the income statement and the list of changes to answer the question Gulf Shipping Company Income Statement January 1 to December 31, 2015 (amounts in thousands) Revenue 9,000 Cost of Goods Sold (COGS) 3,600 Gross Income 5,400 Sales, General, Administrative Expenses (SG A) 900 Depreciation Expense 1,000 Other Expenses 400 Earnings Before Interest Taxes (EBIT) 3,100 Interest 120 Pre Tax Income 2,980 Income Taxes 1,192 Net Income 1,788 Between January 1 and December 31, 2015 1 Accounts Receivable decrease by $200,000 2 Accounts Payable increase by $500,000 3 Gross Property, Plant, Equipment increase by $8,500,000 4 Long Term Debt increases by $900,000 Assume no other changes What is the Net Cash Flow Please specify your answer in the same units as the income statement Question 3) Use the starting balance sheet and statement of cash flows to answer the question Dansko Integrated Balance Sheet As of December 31, 2015 (amounts in thousands) Cash 99,000 Accounts Payable 27,000 Accounts Receivable 45,000 Debt 35,000 Inventory 38,000 Other Liabilities 10,000 Property Plant Equipment, Gross 235,000 Total Liabilities 72,000 Accumulated Depreciation 67,000 Paid In Capital 80,000 Property Plant Equipment, Net 168,000 Retained Earnings 214,000 Other Assets 16,000 Total Equity 294,000 Total Assets 366,000 Total Liabilities Equity 366,000 Dansko Integrated Statement of Cash Flows January 1 to March 31, 2016 (amounts in thousands) Net Income 9,500 Depreciation 1,800 Decrease (Increase) in Accounts Receivable 400 Decrease (Increase) in Inventory (800) Increase (Decrease) in Accounts Payable 900 Other Adjustments 0 Net Cash Flow from Operating Activities 11,800 Purchase of Property, Plant, Equipment (6,700) Other Adjustments 0 Net Cash Flow from Investing Activities (6,700) Increase (Decrease) in Debt (200) Dividends (800) Other Adjustments 0 Net Cash Flow from Financing Activities (1,000) Net Cash Flow 4,100 What is the value for Total Liabilities Equity on March 31, 2016 Please specify your answer in the same units as the financial statements Question 4 Use the balance sheets and information provided about revenue and expenses to answer the question Nippon Technology Balance Sheet As of December 31, 2015 (amounts in thousands) Cash 137,000 Accounts Payable 20,000 Accounts Receivable 32,000 Debt 36,000 Inventory 51,000 Other Liabilities 9,000 Property Plant Equipment, Gross 227,000 Total Liabilities 65,000 Accumulated Depreciation 73,000 Paid In Capital 72,000 Property Plant Equipment, Net 154,000 Retained Earnings 245,000 Other Assets 8,000 Total Equity 317,000 Total Assets 382,000 Total Liabilities Equity 382,000 Nippon Technology Balance Sheet As of March 31, 2016 (amounts in thousands) Cash 140,000 Accounts Payable 28,000 Accounts Receivable 26,000 Debt 32,000 Inventory 56,000 Other Liabilities 8,670 Property Plant Equipment, Gross 227,000 Total Liabilities 68,670 Accumulated Depreciation 73,800 Paid In Capital 72,000 Property Plant Equipment, Net 153,200 Retained Earnings 246,530 Other Assets 12,000 Total Equity 318,530 Total Assets 387,200 Total Liabilities Equity 387,200 Revenue and expenses information from January 1 to March 31, 2016 were Sales Revenue of $7,900,000 COGS of 40 of Sales Interest of $80,000 Other Expenses of $600,000 SG A of $790,000 Tax Rate of 34 What is the net income in the first quarter of 2016 Please specify your answer in the same units as the balance sheets

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Question #1) Use the starting balance sheet, income statement, and the list of changes to answer the question. Gulf Shipping Company Balance Sheet As of

Question #1)

Use the starting balance sheet, income statement, and the list of changes to answer the question.

Gulf Shipping Company Balance Sheet As of December 31, 2015 (amounts in thousands)
Cash	38,000	Liabilities	22,000
Other Assets	27,000	Equity	43,000
Total Assets	65,000	Total Liabilities & Equity	65,000

Gulf Shipping Company Income Statement January 1 to March 31, 2016 (amounts in thousands)
Revenue	5,100
Expenses	2,800
Net Income	2,300

Between January 1 and March 31, 2016:

1. Cash decreases by $100,000

2. Other Assets do not change

3. Paid-In Capital does not change

4. Dividends increase by $400,000

What is the value for Liabilities on March 31, 2016?

Please specify your answer in the same units as the financial statements.

Question #2)

Use the income statement and the list of changes to answer the question.

Gulf Shipping Company Income Statement January 1 to December 31, 2015 (amounts in thousands)
Revenue	9,000
Cost of Goods Sold (COGS)	3,600
Gross Income	5,400
Sales, General, & Administrative Expenses (SG&A)	900
Depreciation Expense	1,000
Other Expenses	400
Earnings Before Interest & Taxes (EBIT)	3,100
Interest	120
Pre-Tax Income	2,980
Income Taxes	1,192
Net Income	1,788

Between January 1 and December 31, 2015:

1. Accounts Receivable decrease by $200,000

2. Accounts Payable increase by $500,000

3. Gross Property, Plant, & Equipment increase by $8,500,000

4. Long Term Debt increases by $900,000

Assume no other changes

What is the Net Cash Flow?

Please specify your answer in the same units as the income statement.

Question 3)

Use the starting balance sheet and statement of cash flows to answer the question.

Dansko Integrated Balance Sheet As of December 31, 2015 (amounts in thousands)
Cash	99,000	Accounts Payable	27,000
Accounts Receivable	45,000	Debt	35,000
Inventory	38,000	Other Liabilities	10,000
Property Plant & Equipment, Gross	235,000	Total Liabilities	72,000
Accumulated Depreciation	67,000	Paid-In Capital	80,000
Property Plant & Equipment, Net	168,000	Retained Earnings	214,000
Other Assets	16,000	Total Equity	294,000
Total Assets	366,000	Total Liabilities & Equity	366,000

Dansko Integrated Statement of Cash Flows January 1 to March 31, 2016 (amounts in thousands)
Net Income	9,500
Depreciation	1,800
Decrease (Increase) in Accounts Receivable	400
Decrease (Increase) in Inventory	(800)
Increase (Decrease) in Accounts Payable	900
Other Adjustments	0
Net Cash Flow from Operating Activities	11,800
Purchase of Property, Plant, & Equipment	(6,700)
Other Adjustments	0
Net Cash Flow from Investing Activities	(6,700)
Increase (Decrease) in Debt	(200)
Dividends	(800)
Other Adjustments	0
Net Cash Flow from Financing Activities	(1,000)
Net Cash Flow	4,100

What is the value for Total Liabilities & Equity on March 31, 2016?

Please specify your answer in the same units as the financial statements.

Question 4

Use the balance sheets and information provided about revenue and expenses to answer the question.

Nippon Technology Balance Sheet As of December 31, 2015 (amounts in thousands)
Cash	137,000	Accounts Payable	20,000
Accounts Receivable	32,000	Debt	36,000
Inventory	51,000	Other Liabilities	9,000
Property Plant & Equipment, Gross	227,000	Total Liabilities	65,000
Accumulated Depreciation	73,000	Paid-In Capital	72,000
Property Plant & Equipment, Net	154,000	Retained Earnings	245,000
Other Assets	8,000	Total Equity	317,000
Total Assets	382,000	Total Liabilities & Equity	382,000

Nippon Technology Balance Sheet As of March 31, 2016 (amounts in thousands)
Cash	140,000	Accounts Payable	28,000
Accounts Receivable	26,000	Debt	32,000
Inventory	56,000	Other Liabilities	8,670
Property Plant & Equipment, Gross	227,000	Total Liabilities	68,670
Accumulated Depreciation	73,800	Paid-In Capital	72,000
Property Plant & Equipment, Net	153,200	Retained Earnings	246,530
Other Assets	12,000	Total Equity	318,530
Total Assets	387,200	Total Liabilities & Equity	387,200

Revenue and expenses information from January 1 to March 31, 2016 were: Sales Revenue of $7,900,000 COGS of 40% of Sales Interest of $80,000 Other Expenses of $600,000 SG&A of $790,000 Tax Rate of 34% What is the net income in the first quarter of 2016? Please specify your answer in the same units as the balance sheets.